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Blank checks company · DE · FY ends Dec · Revenue $528K · -939.26% margin · -$1M FCF
The business is unprofitable at the operating level (-1128.58% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 21.9% YoY with margins expanding 217.4pp.
ROIC dropped from -28.55% to -41.22%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$528K
▲ +21.9% YoY
Net Income (TTM)
-$5M
▼ -116.1% YoY
Op. Margin
-939.26%
▲ +217.4pp YoY
ROIC
-68.72%
▼ -12.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▲ +41.6% YoY
Op. Cash Flow (TTM)
-$1M
▲ +40.8% YoY
Net Debt
$5M
Cash & Equiv.
$18K
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